NEW YORK, Nov. 25, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of FirstCash, Inc. ("FirstCash" or the "Company") (NASDAQ: FCFS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether FirstCash and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 12, 2021, the Consumer Financial Protection Bureau ("CFPB") filed a lawsuit against FirstCash and Cash America West, alleging that the two companies violated the Military Lending Act by charging higher than the allowable 36% annual rate on pawn loans to active-duty service members and their dependents. The CFPB's lawsuit seeks an injunction, redress for affected borrowers, and a civil money penalty.
On this news, FirstCash's stock price fell $7.50 per share, or 8.71%, to close at $78.64 per share on November 12, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com